Kindle
$9.99
Available instantly
Audible Logo Audiobook
$0.00
with membership trial
Hardcover
$17.78
Buy new:
-11% $17.78
FREE delivery Saturday, May 18 on orders shipped by Amazon over $35
Ships from: Amazon.com
Sold by: Amazon.com
$17.78 with 11 percent savings
List Price: $19.95

The List Price is the suggested retail price of a new product as provided by a manufacturer, supplier, or seller. Except for books, Amazon will display a List Price if the product was purchased by customers on Amazon or offered by other retailers at or above the List Price in at least the past 90 days. List prices may not necessarily reflect the product's prevailing market price.
Learn more
Get Fast, Free Shipping with Amazon Prime FREE Returns
FREE delivery Saturday, May 18 on orders shipped by Amazon over $35
Or fastest delivery Thursday, May 16. Order within 19 hrs 10 mins
Only 5 left in stock (more on the way).
$$17.78 () Includes selected options. Includes initial monthly payment and selected options. Details
Price
Subtotal
$$17.78
Subtotal
Initial payment breakdown
Shipping cost, delivery date, and order total (including tax) shown at checkout.
Ships from
Amazon.com
Ships from
Amazon.com
Sold by
Amazon.com
Sold by
Amazon.com
Returns
30-day easy returns
30-day easy returns
This item can be returned in its original condition for a full refund or replacement within 30 days of receipt.
Read full return policy
Returns
30-day easy returns
This item can be returned in its original condition for a full refund or replacement within 30 days of receipt.
Read full return policy
Payment
Secure transaction
Your transaction is secure
We work hard to protect your security and privacy. Our payment security system encrypts your information during transmission. We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. Learn more
Payment
Secure transaction
We work hard to protect your security and privacy. Our payment security system encrypts your information during transmission. We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. Learn more
$8.17
Get Fast, Free Shipping with Amazon Prime FREE Returns
This copy may contain significant wear, including bending, writing, tears, and or water damage. This book is a functional copy, not necessarily a beautiful copy. Copy may have loose or missing pages and may not include access codes or CDs. This copy may contain significant wear, including bending, writing, tears, and or water damage. This book is a functional copy, not necessarily a beautiful copy. Copy may have loose or missing pages and may not include access codes or CDs. See less
FREE delivery Monday, May 20 on orders shipped by Amazon over $35
Or fastest delivery Thursday, May 16. Order within 19 hrs 10 mins
Only 1 left in stock - order soon.
$$17.78 () Includes selected options. Includes initial monthly payment and selected options. Details
Price
Subtotal
$$17.78
Subtotal
Initial payment breakdown
Shipping cost, delivery date, and order total (including tax) shown at checkout.
Access codes and supplements are not guaranteed with used items.
Kindle app logo image

Download the free Kindle app and start reading Kindle books instantly on your smartphone, tablet, or computer - no Kindle device required.

Read instantly on your browser with Kindle for Web.

Using your mobile phone camera - scan the code below and download the Kindle app.

QR code to download the Kindle App

The Squam Lake Report: Fixing the Financial System Hardcover – June 14, 2010

by Kenneth R. French (Author), Martin N. Baily (Author), John Y. Campbell (Author),
4.5 4.5 out of 5 stars 15 ratings
See all formats and editions
{"desktop_buybox_group_1":[{"displayPrice":"$17.78","priceAmount":17.78,"currencySymbol":"$","integerValue":"17","decimalSeparator":".","fractionalValue":"78","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"W6hP9kMW3gv2G7yedwQrpkkrQ055jMDMBM3FiwhOmrhdb7Zzr2MjXp5LxYEPHscguZCwYZy3mW9KlnioRtV%2FPbJgDGMC3q75C2h5rK%2FJ%2F4x5XktF8tDKqPabBjqYqEB%2FatuOezkkOdQ%3D","locale":"en-US","buyingOptionType":"NEW","aapiBuyingOptionIndex":0}, {"displayPrice":"$8.17","priceAmount":8.17,"currencySymbol":"$","integerValue":"8","decimalSeparator":".","fractionalValue":"17","symbolPosition":"left","hasSpace":false,"showFractionalPartIfEmpty":true,"offerListingId":"W6hP9kMW3gv2G7yedwQrpkkrQ055jMDMh%2Fqc%2BZxdBMNf2rruwGW8YOAnBCbO%2BFh0Wzfe1aolB4crxiJPwCAS9Y3o21MzJvvggh424AW0EliLCtZPhraHwgPgJvj%2F0Z9f051HTvMZD4Xywf1wqBAV5iGiJpf2ZEb5rOM%2BH4U4IS6iE4xcSuKNuIxf2iDkpnD%2B","locale":"en-US","buyingOptionType":"USED","aapiBuyingOptionIndex":1}]}

Purchase options and add-ons

A nonpartisan plan of action for fixing the global economy from fifteen of the world's leading economists

In the fall of 2008, fifteen of the world's leading economists―representing the broadest spectrum of economic opinion―gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.

The Squam Lake Report distills the wealth of insights from the ongoing collaboration that began at these meetings and provides a revelatory, unified, and coherent voice for fixing our troubled and damaged financial markets. As an alternative to the patchwork solutions and ideologically charged proposals that have dominated other discussions, the Squam Lake group sets forth a clear nonpartisan plan of action to transform the regulation of financial markets―not just for the current climate―but for generations to come.

Arguing that there has been a conflict between financial institutions and society, these diverse experts present sound and transparent prescriptions to reduce this divide. They look at the critical holes in the existing regulatory framework for handling complex financial institutions, retirement savings, and credit default swaps. They offer ideas for new financial instruments designed to recapitalize banks without burdening taxpayers. To lower the risk that large banks will fail, the authors call for higher capital requirements as well as a systemic regulator who is part of the central bank. They collectively analyze where the financial system has failed, and how these weak points should be overhauled.

Combining an immense depth of academic, private sector, and public policy experience, The Squam Lake Report contains urgent recommendations that will positively influence everyone's financial well-being―all who care about the world's economic health need to pay attention.

Read more Read less
Previous page
  1. Print length
    168 pages
  2. Language
    English
  3. Publisher
    Princeton University Press
  4. Publication date
    June 14, 2010
  5. Dimensions
    5.75 x 0.75 x 8.5 inches
  6. ISBN-10
    1405125047
  7. ISBN-13
    978-1405125048
  8. See all details
Next page
Books with Buzz
Books with Buzz
Discover the latest buzz-worthy books, from mysteries and romance to humor and nonfiction. Explore more

Frequently bought together

The Squam Lake Report: Fixing the Financial System
$17.78
Get it as soon as Saturday, May 18
Only 5 left in stock (more on the way).
Ships from and sold by Amazon.com.
+
Boom and Bust: A Global History of Financial Bubbles
$16.10
Get it as soon as Saturday, May 18
In Stock
Ships from and sold by Amazon.com.
+
ISE Financial Institutions Management: A Risk Management Approach (ISE HED IRWIN FINANCE)
$53.50
Get it as soon as Saturday, May 18
Only 7 left in stock - order soon.
Sold by Castro Trading Company LLC and ships from Amazon Fulfillment.
Total price:
To see our price, add these items to your cart.
Details
Added to Cart
Some of these items ship sooner than the others.
Show details Hide details
Choose items to buy together.

Editorial Reviews

Review

"Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics"

"Raghuram Rajan, Winner of the Deutsche Bank Prize in Financial Economics 2013, The Center for Financial Studies"

"If you asked me to recommend one thing to read on reforming financial regulation, [The Squam Lake Report] would be it."---Clive Crook, The Atlantic

"The Squam Lake Report [is] a slim volume that contains the best prescriptions of the brightest minds of economics about how to save the financial system."---Heidi N. Moore, CNNMoney.com

"The Squam Lake Report is a slight volume of ten chapters and just 157 pages--practically anorexic by the standards of many tomes about the credit crunch--but it makes heavyweight claims. It is the product of 15 of the leading financial economists in the United States, who first met on a weekend retreat to New Hampshire's remote and scenic Squam Lake, and offers their prescriptions for regulatory reform to stave off future collapses." ― New Statesman

"Fifteen prominent academic US economists developed this concise set of recommendations for financial regulation reform in Fall 2008 in a desire to prevent a recurrence of the financial crisis that developed in 2007 and whose effects continue to the present. The introductory chapter provides an excellent summary of the cascade of financial catastrophes precipitated initially by losses on mortgage-backed securities. . . . [A] useful volume for its historical overview and coverage of key issues." ― Choice

"The Squam Lake Report is an important book in a growing library of commentary on the worst financial crisis since the Depression. It delivers good and clearly written recommendations and reviews most of the key issues surrounding the crisis."---Mark S. Rzepczynski, Financial Analysts Journal

Review

"The Squam Lake Report is an excellent primer on the workings and failures of today's sophisticated financial system. Few can fail to be impressed with the scholarship the Report brings to the subject of reform."―Alan Greenspan

"The Squam Lake Report makes an important contribution to the debate on financial regulation, highlighting many interesting and innovative ideas that should be considered by all those studying how a future crisis can be avoided."―Mervyn King, Governor of the Bank of England

"Insightful and highly relevant."―Markus K. Brunnermeier, Princeton University

Product details

  • ASIN ‏ : ‎ 0691148848
  • Publisher ‏ : ‎ Princeton University Press; First Edition (June 14, 2010)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 168 pages
  • ISBN-10 ‏ : ‎ 1405125047
  • ISBN-13 ‏ : ‎ 978-1405125048
  • Item Weight ‏ : ‎ 12 ounces
  • Dimensions ‏ : ‎ 5.75 x 0.75 x 8.5 inches
  • Customer Reviews:
    4.5 4.5 out of 5 stars 15 ratings

Customer reviews

4.5 out of 5 stars
4.5 out of 5
15 global ratings

Top reviews from the United States

Michael A. Kelly
5.0 out of 5 stars A Clear Set of Explanations for Causes of the Financial Crisis
Reviewed in the United States on October 7, 2011
Verified Purchase
I am a professor at a liberal arts college and am using this book for a course on financial crises. While it is written by some of the best minds in financial economics, the book is extremely straight forward to read. What I find most impressive is that the simplified language reads "correctly" to me. In other words, they have managed to simplify the language without simplifying the argument, a rare feat in a book of this type.

The book is notable in another respect, this is the only book on the financial crisis that discusses the "prime brokerage runs" that brought down Bear and Lehman and nearly brought down Morgan Stanley and Goldman. Once again, they provide a straight forward explanation of an arcane topic. Few people seem to understand how prime brokerage runs work. In today's (10/6/2011) Wall Street Journal, there is an article on Morgan Stanley's prime brokerage business where the reporter would have greatly benefited from reading this book.
5 people found this helpful
Helpful
 Report
D. Bonarrigo
5.0 out of 5 stars Five Stars
Reviewed in the United States on May 8, 2016
Verified Purchase
Book was in great condition, even better than stated.
Helpful
 Report
Livia Wade
5.0 out of 5 stars Five Stars
Reviewed in the United States on January 10, 2017
Verified Purchase
Fnie
Helpful
 Report
David Caldwell
5.0 out of 5 stars Squam lake
Reviewed in the United States on August 15, 2010
Verified Purchase
I do not reccommend this book for a layman. I am not sure what the authors were trying to say.
3 people found this helpful
Helpful
 Report
Rolf Dobelli
5.0 out of 5 stars Fascinating real-world solutions for the global financial system
Reviewed in the United States on December 3, 2010
This slim volume is named after the isolated New England resort where 15 renowned economists, academics and policy makers met in the fall of 2008 to devise solutions to the "World Financial Crisis." That they convened amid fast-paced, seismic economic events adds to the star-chamber aspects of their collaboration. Still, these éminences grises - all nonpartisan, without commercial sponsorship or political axes to grind - developed their ideas by sharing their expertise. Their recommendations cover reforms in banking, financial products, regulation, compensation, pensions and hedge funds - all the named villains of the last crisis. Why did they issue these ideas? So they could educate political and fiscal leaders - if they would only listen - about possible laws that could help avert or lessen the likelihood and impact of future meltdowns. getAbstract recommends this sound advice to students of and participants in the global economy.
3 people found this helpful
Helpful
 Report
icemanlp
5.0 out of 5 stars Required Reading for Every U.S. Politician and Board Member of Any Financial Institution
Reviewed in the United States on March 10, 2011
Having spent over 20 years on Wall Street and witnessing the abuses of our system from the inside, it is time for our policy makers to listen to the recommendations of these brilliant and rational minds. Whining about greed is no substitute for putting in place proper safeguards. Well written, concise and spot on.
One person found this helpful
Helpful
 Report
Jeff
5.0 out of 5 stars Great Book! Take into Consideration
Reviewed in the United States on August 10, 2010
I really enjoyed reading this book! Very informative, concepts that should be in place!
4 people found this helpful
Helpful
 Report
Michael Emmett Brady
3.0 out of 5 stars The authors are all committed to maintaining the current speculator economy
Reviewed in the United States on March 6, 2011
The problem with this book is that it was written completely by a group of economists who accept the standard underlying Benthamite Utilitarian philosophy of Maximizing Utility.The updated version,expressed in modern mathematical terms,is called Subjective Expected Utility (SEU).The SEU model assumes that risk assessment analysis ,based on the Ramsey-De Finetti-Savage personalist approach to probability,allows its users to make careful and sophisticated reward-risk tradeoffs based on the assumptions that the probabilities or decision weights are linear and additive.This allows one to use the normal(log normal) probability distribution to quantify risk assessments and make safe risk-reward(return) tradeoffs using the variance or variance -covariance matrix.This approach is ,in fact, a special case of a much more general theory of decision making presented in great detail by Keynes in his A Treatise on Probability that demonstrated that nonlinearity and nonadditivity were the general case.This means that the normal (log normal )distribution fails to represent the risks resulting in stock and money markets, especially from speculative stock market activity where debt leverage ,using bank loans, is used in an attempt to greatly increase the returns.Specifically ,the belief that a normal distribution can be used to assess the risk of the use of derivative contracts and credit default swaps is completely erroneous.
Four philospher- economists ,Adam Smith,John Maynard Keynes,Benoit Mandelbrot and NN Taleb, recognized ,in one way or another,the severe dangers that can result from the creation of new speculative instruments,which is misleadingly called financial innovation,financial engineering or securitization,involving the banking industry over time.None of these four are mentioned in this book.

Another shortcoming involves the discusssions on page 5 of the link between AIG and Goldman Sachs .THe discussion completely fails to state that the credit default swaps were purely speculative trading arrangements that served no economic function relating to the provision of any real good and/or service.

I will close this review by quoting Warren Buffett's 2002 warning about the grave dangers of using financial derivatives." The rapidly growing trade in derivatives poses a " mega-catastrophic risk...derivatives are financial weapons of mass destruction that could harm not only the buyers and sellers,but the whole economic system".(2002 Annual Report,Berkshire Hathaway).

This is precisely what happened.The whole economic system has been severely damaged by the Wall Street ,supply side ,casino capitalism approach which is built on the SEU approach .Unfortunately,this book's conclusions, concerning the need for both more severe regulation and the regulation of the use of financial derivatives ,wants to keep the current systems's major flaw intact.The major flaw in the current system is that it is built on a few large maga banks.Smith recognized that a very small number of very large banks endangers the financial system. What is needed is Adam Smith's suggested use of regulation to prevent projector firms like Goldman Sachs and AIG from getting bank loans combined with a very large number of small banks.
12 people found this helpful
Helpful
 Report

Top reviews from other countries

Translate all reviews to English
Jean Michel Bob
5.0 out of 5 stars A lire absolument
Reviewed in France on June 7, 2018
Verified Purchase
A lire absolument par tout ceux qui s'intéressent à la régulation financière. Sa lecture est vivement recommandée même 7 après sa parution.
Report